The European Bank for Reconstruction and Development (EBRD) is strengthening Uzbekistan’s domestic production of eco-friendly building materials by extending a $6 million (€5.2 million) loan to Angren Group, the country’s leading producer of non-woven glass fibre and glass wool.
Boosting Local Manufacturing and Reducing Import Dependence
Angren Group is Uzbekistan’s sole producer of non-woven glass fibre sheets, a material widely used in drywall manufacturing and facade construction. The EBRD’s funding will enable the company to:
- Purchase advanced colouring equipment to enhance production capabilities.
- Secure working capital for its glass fibre sheet manufacturing plant.
- Restructure its balance sheet, improving financial stability.
Impact on Uzbekistan’s Construction Sector
Uzbekistan’s construction industry contributed nearly 7% to GDP in 2024 and is projected to grow further, driving demand for high-quality building materials. By expanding local production, Angren Group is:
- Increasing competition in the sector.
- Reducing reliance on imports.
- Enhancing affordability and accessibility of eco-friendly insulation materials.
Corporate Governance and International Support
As part of the initiative, Angren Group will implement a corporate governance action plan to strengthen operational transparency and efficiency. The project is backed by technical cooperation funds from the Japan-EBRD Cooperation Fund.
EBRD’s Commitment to Uzbekistan
The EBRD has invested €5.6 billion across 181 projects in Uzbekistan, with a strong focus on private sector development. The country has been the leading recipient of EBRD funding in Central Asia for the past five years.
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